Sterling is falling today (Thursday 10.30 am  ) after figures for the UK’s goods trade deficit reached  a record high in July. Britain’s total trade deficit, which includes services, also increased sharply to its highest level in nearly five years.

The pound fell 0.5 per cent to $1.5399 against the dollar and was 0.4 per cent weaker at £0.8252 against the euro.

Meanwhile, the euro lost 0.1 per cent to $1.2715 against the dollar as worries over the health of the eurozone financial system persisted.

Derek Halpenny at Bank of Tokyo-Mitsubishi UFJ said  that Ireland might well be the next domino to fall in the eurozone financial crisis.

He said “The figures on Ireland’s banking crisis are such that Ireland now appears highly likely to end up tapping the €750bn bail-out fund that the authorities in Europe are still insisting will not need to be utilised.”

“With general confidence ebbing, a fiscal shock from Ireland is a growing possibility that would trigger a fresh bout of euro selling as the EU bail-out fund is forced into action.”

The euro fell 0.5 per cent to Y106.27 against the yen.

Best Currency Exchange Rates – :
If you are planning to exchange large amounts of currency – maybe for a large  purchase or just  to move some of your savings  into another currency  – you will usually get the best exchange rates from a specialist currency broker instead of using  your own bank.

On paper the  rate differences may look insignificant – but on large transactions a difference of just 0.01 in the exchange rate could save you €500 on a €50k exchange. Why let the banks have it?

Currency Solutions is a  UK based  broker that can carry out conversions of any currencies for you – (amounts over £3000 GBP usually) . They don’t charge commission and the exchange rates are typically better than the high street banks.
Visit their website for a free no obligation quote .
Or you call Currency Solutions  on 0044 207 740 0000 - and ask for the Money Guide Ireland dedicated contact - Ernie Enver. He should  be able to give you a quick response to any queries.

Irish Minister for Finance-  Brian Lenihan announced the plans for the troubled Anglo Irish Bank today.
The bank is to be split  – with  Anglo’s remaining loans beng  housed in an “asset recovery”  bank, where they will be worked out over a period of time. The Anglo Irish   deposits will be put into a government-backed deposit bank which will not engage in any lending.

“It will be a stand-alone, regulated bank, completely separated from Anglo’s loan assets and it will be owned directly by the minister for finance,” said Mr. Lenihan

The capital cost of the plan — the final bill which investors have been seeking — will be known in October when the central bank announces the units’ capital requirements.

The prospect of a final price being put on the cost of bailing out Anglo, which has saddled Ireland with the worst budget deficit in the European Union, gave some relief to Irish debt spreads but analysts said overall the lack of detail was disappointing.

Alan McQaid, chief economist at Bloxham Stockbrokers was reported as saying
“I don’t think the market gives a hoot one way or the other if it’s a ‘good bank/bad bank’ or if it’s wound up, the issue is how much it’s going to cost.”

From 7 September Ulster Bank have announced that their branches in Ireland will be open longer : The new opening hours will be

Monday, Tuesday, Thursday and Friday 9.30am – 4.30pm

Wednesday 10.00am – 4.30pm.

(Some branches will still close for lunch !)

It’s a step in the right direction – but many UK banks are open 9 to 5 and many of them open on Saturdays too.

Colgate – in conjunction with the Irish Dental Association is offering a refund of €65 on a dental check up or a scale and polish.
A purchase of some Colgate products is required -  In order to qualify for the refund you have to buy all of the following items from the Colgate range in a single transaction between 1st September 2010 and 30th September 2010:
2 x Colgate 360° toothbrushes,
Any Colgate Total toothpaste (100ml)
and any Colgate mouthwash (500ml).
The receipt for this purchase must be retained.

Participants must have their check up or scale and polish at their preferred dentist in the Republic Of Ireland no later than 30th November 2010 and retain their dentist’s receipt clearly detailing the check up or scale and polish treatment and the amount paid.

Full Details Here